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The Parlay System
The Parlay system is a positive progression system, which means that you increase your bet after you win and take chances with house money. The Parlay system is similar in theory to the Paroli system, but is actually quite a bit simpler. The advantage of the Parlay system is that you don't need to risk very much of your own money, but still can score a big win by playing with house money. Now we'll explain exactly how to use the Parlay system...
How to Use the Parlay System
The Parlay system is extremely simple - you decide on an initial bet size, then increase your bet size every time you win, or return to the initial bet size if you lose. You also need to set a "max win" amount that dictates when you take your winnings off the table. We'll show you an example so you can better understand how to use the system:
Let's say your initial bet size is $10, and your max win is $80. We'll also assume that you are making a red bet at the roulette table, which pays out an even 1:1.
Your first bet is $10 on red. If you win, your next bet would be $20 on red. If you win again, your next bet would be $40 on red. If you win again, you would take your $80 off the table and start over with a $10 bet, because $80 was your "max win" number.
If you lose at any time during the cycle, you simply return to your initial $10 bet and start the process over from scratch. The reason we set a "max win" number is to guarantee that at some point you take money off the table. If you had no "max win" you would let your winnings ride until you lost, guaranteeing that you would never receive a profit.
Using the Parlay System for Other Bets
In the example above we used an even money bet for an example, but it is important to note that you do not have to be making even money bets to use the Parlay system. In fact, you can use it on any bet out there!
For example, imagine that you were playing blackjack and making $20 initial bets, and hit a blackjack on your first hand at the table. Since blackjack pays out 3:2, you now have a total of $50 (your initial $20 bet and the $30 in winnings). Now you can make a $50 wager instead of just doubling to a $40 wager after the win.
Also, the Parlay system is not just for the casino - horse bettors use the system as well.
Does the Parlay System Work?
Unfortunately, the Parlay system does not work in the long run. Since you are only changing your bet sizes and not doing anything to alter the game's odds, the house still has the same advantage, and you are just as likely to lose in the long run.
This is not to say that you shouldn't use the Parlay system - we're just making sure you understand that the Parlay system does nothing to increase or decrease your odds of winning whatsoever. What it does do is give you a chance for a big short term win without risking a large sum of your own money.
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